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Ferguson acquires 3 companies
U.K. plumbing and heating products distributor Ferguson plc has agreed to acquire two North American companies and closed on a third acquisition, the company announced Tuesday. Ferguson plc is the parent company of Newport News-based plumbing, HVAC and industrial product distributor Ferguson Enterprises. Ferguson has agreed to acquire Toronto-based Yorkwest Plumbing Supply, a distributor of […][...]
Groundworks hires CFO
Groundworks has hired Michael Mullican as its chief financial officer, the Virginia Beach-based foundation and water management solutions company announced Wednesday. Mullican will succeed Stephen Fry, who is retiring at the end of March. Mullican was previously president and CFO of sporting goods retailer Academy Sports + Outdo[...]
Three Norfolk retail buildings sell for $3.3M
Three retail buildings on a portion of a site used for commercial auto sales and service in Norfolk sold for $3.3 million on Dec. 22, 2023. Michael Sifen Inc. purchased an approximately 5.39-acre portion of 7520 N. Military Highway from Freedom Industrial. The site includes a roughly 30,188-square-foot building, a two-story, rou[...]
Virginia Beach retail building sells for $5.5M
A retail building in Virginia Beach sold for $5.5 million on Dec. 18, 2023. Located at 5169 Virginia Beach Blvd., the freestanding retail building is 59,162 square feet, and the plot of land is almost 136,999 square feet, according to city property records. The current tenant is a Havertys Furniture store. 5169 VB BLVD LLC [&hel[...]
Reddix creates hub for women entrepreneurs
Angela Reddix is making it her business to create economic opportunities for women. “That is my absolute heart’s desire — to make it easier for girls and women to have access to wealth, and that means understanding it. That means being able to see it. That means being able to be invited in rooms where […]
Norfolk HeadWaters casino could break ground in spring 2024
With the clock ticking on HeadWaters Resort & Casino’s statutory requirement to open a permanent resort casino by November 2025 — five years after Norfolk voters approved it — the developer has submitted new plans to the City of Norfolk, aiming to start construction in spring 2024. The Norfolk Architecture Review Boa[...]
Va. casinos report $51.2M in November revenue
Gaming revenues from Virginia’s three casinos totaled $51.2 million in November, according to Virginia Lottery data released Friday. Virginia’s first casino, the Bristol Casino: Future Home of Hard Rock temporary facility, opened July 2022. The Virginia Lottery Board approved HR Bristol’s casino license in April 2022. The [...]
McGuireWoods names RVA, Norfolk managing partners
McGuireWoods, Virginia’s oldest and largest law firm, has appointed new managing partners in Richmond and Norfolk, the firm announced Friday. Janet Peyton will lead the Richmond office, and Michael Herring, the current Richmond office managing partner, will become chair of the firm’s commercial litigation department [...]
Hampton Roads home sales down in November
Home sales in Hampton Roads were down in November, both compared with October and November 2022, the Real Estate Information Network (REIN) reported in December. A total of 1,690 settled sales were down 10.77% from October and 12.12% from November 2022, according to REIN. Pending sales were also down 7.69% compared with October [...]
Bon Secours tops off new Suffolk hospital
Bon Secours held a topping-out ceremony Thursday for its $80 million, 98,000-square-foot hospital, Harbour View Medical Center, in Suffolk, expected to be completed in 2025. The surgically focused hospital will have 18 medical/surgical beds and four operating rooms and serve as an extension of the services offered on the campus,[...]
Riddle Associates names new president
Riddle Associates, a Chesapeake-based commercial industrial real estate brokerage, promoted Lindsey Riddle Elliott to president and principal broker in November, the brokerage announced Wednesday. Elliott formerly served as executive vice president and has been with Riddle for 15 years. She replaces her father, Robert L. Riddle,[...]
Va.’s maritime industry has $8B economic impact, report says
Virginia’s non-military maritime industry was responsible for one in five jobs in Virginia and more than $8 billion in state and local taxes during fiscal 2022, according to a recent study conducted by William & Mary. The Virginia Maritime Association and the Virginia Port Authority commissioned the study to demonstrat[...]
